Verb Technology Co. Inc. VERB, a provider of interactive video-based sales apps, has become the latest small-cap company to announce plans to address naked short selling of its stock, among suspected trading violations. The Newport Beach, California and Lehi, Utah-based company said it believes “that certain individuals and/or companies may have engaged in illegal trading activities, including, among other things, naked short selling and spoofing that may have artificially depressed VERB’s stock price.” The board is creating a plan of action and considering engaging forensic experts, and working with other companies that have identified similar illegal trading in their shares. “Today we join the fight begun by companies like Genius Group GNS , Helbiz HLBZ and Creatd CRTD, among others for greater integrity in the capital markets,” CEO Rory J. Cutai said in a statement. Verb stock, which closed Friday at 23 cents, soared 33% premarket Monday.
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